Alamo Group Inc. (NYSE:ALG) Shares Sold by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. decreased its holdings in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,060 shares of the industrial products company's stock after selling 12,035 shares during the quarter. Icon Advisers Inc. Co. owned approximately 0.15% of Alamo Group worth $3,358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company's stock valued at $70,562,000 after buying an additional 10,013 shares in the last quarter. Barclays PLC grew its holdings in shares of Alamo Group by 204.7% during the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after purchasing an additional 15,061 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alamo Group by 0.3% during the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company's stock worth $41,834,000 after purchasing an additional 670 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Alamo Group in the 3rd quarter valued at about $273,000. Finally, Tidal Investments LLC boosted its position in shares of Alamo Group by 3.8% in the 3rd quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company's stock valued at $557,000 after purchasing an additional 113 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Stock Performance

Shares of NYSE:ALG traded up $0.53 during midday trading on Friday, hitting $167.40. The stock had a trading volume of 80,722 shares, compared to its average volume of 92,358. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $208.66. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $179.57 and a two-hundred day moving average price of $183.61. The company has a market capitalization of $2.02 billion, a PE ratio of 16.86 and a beta of 1.00.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.16. The company had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. As a group, equities analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Wednesday, April 16th. Alamo Group's dividend payout ratio (DPR) is currently 12.46%.

Analyst Upgrades and Downgrades

ALG has been the subject of a number of research reports. DA Davidson reduced their price objective on Alamo Group from $219.00 to $217.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. StockNews.com downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a research note on Monday, March 3rd. Finally, Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.